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The 2008 financial crisis and taxation policy
Hemmelgarn, Thomas; Nicodème, Gae͏̈tan J.A. - 2010
The 2008 financial crisis is the worst economic crisis since the Great Depression of 1929. It has been characterised by a housing bubble in a context of rapid credit expansion, high risk-taking and exacerbated financial leverage, leading to deleveraging and credit crunch when the bubble burst....
Persistent link: https://www.econbiz.de/10003937066
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Sovereign default risk premia and state-dependent twin deficits : conference paper
Hürtgen, Patrick; Rühmkorf, Ronald - 2013 - This version: August 7, 2013
government operates close to its scal limit, i.e. the maximum capacity of a country to repay its debt. The presence of the … possible sovereign default leads to dynamics of sovereign debt which cause taxes to rise and increase the dispersion of … resulting tax levels. In line with data for industrialized countries household saving increases at high debt-to-GDP levels and …
Persistent link: https://www.econbiz.de/10010341080
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Fiscal multipliers in a panel of countries
Contreras, Juan; Battelle, Holly - 2014
developing than in high-income countries, and zero in high-debt countries and in flexible exchange rates countries. …
Persistent link: https://www.econbiz.de/10010402581
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Fiscal Consolidation and the Cost of Credit : Evidence from Syndicated Loans
Agca, Senay - 2013
We examine how the cost of corporate credit varies around fiscal consolidations aimed at reducing government debt …
Persistent link: https://www.econbiz.de/10013086310
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Experts and Epidemics
Gründler, Klaus - 2020
Do experts adjust their policy recommendations when the facts change? We conduct a large-scale randomized experiment among 1,224 economic experts across 109 countries that includes two treatments. The first treatment is the geographic and temporal variation in the initial spread of Covid-19...
Persistent link: https://www.econbiz.de/10012822503
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The Political Economy of Sovereign Debt : Global Finance and Electoral Cycles
Kaplan, Stephen B. - 2016
Political economy theory expects politicians to use budget deficits to engineer an election-timed boom, known as the political business cycle. We challenge and contextualize this view by incorporating the financial constraints faced by governments into an electoral framework. We argue that the...
Persistent link: https://www.econbiz.de/10013006570
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Is There a Debt-Threshold Effect on Output Growth?
Chudik, Alexander - 2015
This paper studies the long-run impact of public debt expansion on economic growth and investigates whether the debt … for a universally applicable threshold effect in the relationship between public debt and economic growth, once we account … negative long-run effects of public debt build-up on output growth. Provided that public debt is on a downward trajectory, a …
Persistent link: https://www.econbiz.de/10013013818
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Fiscal Multipliers in a Panel of Countries
Contreras, Juan - 2014
developing than in high-income countries, and zero in high-debt countries and in flexible exchange rates countries …
Persistent link: https://www.econbiz.de/10013050083
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Is There a Debt-Threshold Effect on Output Growth?
Chudik, Alexander - 2015
This paper studies the long-run impact of public debt expansion on economic growth and investigates whether the debt … for a universally applicable threshold effect in the relationship between public debt and economic growth, once we account … negative long-run effects of public debt build-up on output growth. Provided that public debt is on a downward trajectory, a …
Persistent link: https://www.econbiz.de/10013019040
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Welfare States in the Era of Globalization
Kiss, Marietta - 2014
Theories on the relationship of globalization and welfare state can be classified into three groups. Globalists hold that globalization threatens welfare state and the anticipated result is its retreat. Sceptics hold that globalization does not constrain the authonomy of national policy....
Persistent link: https://www.econbiz.de/10013045235